Investors Buy American Water Works (AWK) on Weakness
Traders purchased shares of American Water Works (NYSE:AWK) on weakness during trading hours on Thursday. $24.27 million flowed into the stock on the tick-up and $16.92 million flowed out of the stock on the tick-down, for a money net flow of $7.35 million into the stock. Of all companies tracked, American Water Works had the 25th highest net in-flow for the day. American Water Works traded down ($0.28) for the day and closed at $77.83
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price target on the stock in a research note on Friday, July 8th. Barclays PLC lifted their price target on American Water Works from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 6th. Bank of America Corp. restated a “buy” rating on shares of American Water Works in a research note on Tuesday, May 24th. US Capital Advisors restated a “hold” rating on shares of American Water Works in a research note on Tuesday, April 19th. Finally, Boenning Scattergood downgraded American Water Works from an “outperform” rating to a “neutral” rating in a research note on Monday, June 6th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. American Water Works currently has an average rating of “Hold” and a consensus price target of $78.04.
The company has a market capitalization of $13.85 billion and a P/E ratio of 28.38. The firm has a 50-day moving average price of $81.54 and a 200-day moving average price of $73.19.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $827 million for the quarter, compared to analyst estimates of $832.47 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts anticipate that American Water Works will post $2.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, August 4th.
In related news, VP Deborah A. Degillio sold 1,866 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $74.30, for a total value of $138,643.80. Following the sale, the vice president now directly owns 3,145 shares in the company, valued at approximately $233,673.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Walter Lynch sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $75.20, for a total value of $752,000.00. Following the completion of the sale, the chief operating officer now owns 94,764 shares in the company, valued at $7,126,252.80. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of AWK. Venturi Wealth Management LLC acquired a new stake in American Water Works during the fourth quarter valued at approximately $2,335,000. Bank of Montreal Can raised its position in shares of American Water Works by 9.4% in the fourth quarter. Bank of Montreal Can now owns 223,744 shares of the company’s stock worth $13,368,000 after buying an additional 19,162 shares during the last quarter. Calvert Investment Management Inc. raised its position in shares of American Water Works by 57.9% in the fourth quarter. Calvert Investment Management Inc. now owns 38,222 shares of the company’s stock worth $2,284,000 after buying an additional 14,014 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of American Water Works by 9.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 23,147 shares of the company’s stock worth $1,383,000 after buying an additional 1,980 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of American Water Works by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 18,267 shares of the company’s stock worth $1,091,000 after buying an additional 422 shares during the last quarter.
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.